China Overseas Wins Ningbo High-Tech Zone Land for RMB 692 Million After 72 Bids
On August 24, a residential land parcel in Xinming Subdistrict of Ningbo High-Tech Zone was sold. The parcel has a planned floor area of 31,404 square meters and a floor area ratio of 1.5, with a starting price of RMB 550 million, equivalent to a starting floor price of RMB 17,505 per square meter. After 72 rounds of bidding, China Overseas won the parcel for a total of RMB 692 million, with a transaction floor price of RMB 22,027 per square meter and a premium rate of 25.83%.
Why this event matters
The event has a measured impact on 1 industry. The strongest current signal is positive for Residential Development, with intensity 50/100 and 70% confidence over a short term horizon.
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